Europe August acetone MMA contract up €38/tonne

01 August 2013 18:15  [Source: ICIS news]

LONDON (ICIS)--The European August acetone methyl methacrylate (MMA) contract price has increase by €38/tonne ($51/tonne) on the back of an increase in the feedstock propylene contract price, sources confirmed on Thursday.

The August acetone MMA contract price settled at €908/tonne FD (free delivered) NWE (northwest Europe).

In relation to the settlement, a producer said: “Prices should not be less than the propylene increase. Demand in Europe is picking up, and product is really, really tight.”

A major consumer said it did not see the market as tight as producers.

Acetone producers had been seeking an increase of €50/tonne from July to August, based on tight supply as well as high feed costs, while buyers would have preferred an increase €25/tonne.

($1 = €0.75)

By: Julia Meehan
+44 20 8652 3214

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